Enbridge (TSE:ENB) Price Target Raised to C$67.00 at Royal Bank of Canada

Enbridge (TSE:ENB) (NYSE:ENB) had its price objective lifted by research analysts at Royal Bank of Canada from C$63.00 to C$67.00 in a research note issued to investors on Tuesday,BayStreet.CA reports. Royal Bank of Canada’s price target suggests a potential upside of 9.48% from the company’s current price.

Other equities research analysts have also recently issued reports about the company. Scotiabank increased their price objective on Enbridge from C$61.00 to C$65.00 and gave the company a “sector perform” rating in a research report on Thursday, February 13th. Morgan Stanley set a C$64.00 price objective on Enbridge and gave the company an “equal weight” rating in a report on Friday, October 25th. Raymond James lifted their price objective on Enbridge from C$59.00 to C$63.00 in a report on Tuesday, November 26th. Wells Fargo & Company raised their target price on Enbridge from C$57.00 to C$60.00 in a research note on Thursday, December 5th. Finally, JPMorgan Chase & Co. raised their target price on Enbridge from C$66.00 to C$69.00 in a research note on Thursday, December 5th. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of C$63.23.

Enbridge Trading Up 0.2 %

ENB stock traded up C$0.12 during mid-day trading on Tuesday, reaching C$61.20. 7,432,326 shares of the stock traded hands, compared to its average volume of 9,301,427. The stock’s fifty day moving average is C$62.18 and its 200-day moving average is C$58.25. The company has a current ratio of 0.62, a quick ratio of 0.44 and a debt-to-equity ratio of 144.86. The company has a market cap of C$132.63 billion, a P/E ratio of 19.89, a P/E/G ratio of 1.72 and a beta of 0.90. Enbridge has a 52-week low of C$45.39 and a 52-week high of C$65.62.

Insider Activity

In related news, Senior Officer Cynthia Lynn Hansen sold 1,106 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of C$59.94, for a total transaction of C$66,293.64. Insiders own 0.10% of the company’s stock.

About Enbridge

Enbridge Inc, together with its subsidiaries, operates as an energy infrastructure company. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment operates pipelines and related terminals to transport various grades of crude oil and other liquid hydrocarbons in Canada and the United States.